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These 3 banks were afraid of the loan granted to SpiceJet? The airline said this thing



Private airline SpiceJet is facing one setback after another. Recently, the DGCA had increased the rigor on the air services of the company. Now three banks have requested insurance for the loan to SpiceJet. These three banks include the private sector IDFC First and Yes Bank, in addition to the public sector Indian Bank.

Reuters news agency quoted sources as saying banks are concerned about SpiceJet’s cash flow. The banks requested the airline’s assurance regarding the loan granted. Apart from that, the banks have categorized the loans given to SpiceJet as high risk. This means that there is a risk that banks will go into debt.

The airline’s response: However, this news was denied by SpiceJet. SpiceJet said no bank has taken such action. “We are not aware of any ‘concerns’ about any bank, and SpiceJet has not been made aware of them,” a company spokesman told Reuters in an email.

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SpiceJet Chairman Ajay Singh and his wife control 59% of the airline as of June 30. SpiceJet’s share price fell by 3.94% to the level of Rs 47.50. Speaking of market capital, it is Rs 2,858.53 crore.